Venezuela Confirms Coltan Deposits, $100 Billion in Gold Reserves | WHAT REALLY HAPPENED

Venezuela Confirms Coltan Deposits, $100 Billion in Gold Reserves

The Venezuelan government has confirmed the existence of “significant” coltan deposits south of the Orinoco River, as well as proven gold reserves valued at $100 billion.

Basic Industries and Mining Minister Rodolfo Sanz told a press conference that only seven countries in the world have reserves of coltan – a valuable black mineral that combines niobite and tantalite and is used in cell phones and computer chips – in sufficient quantities for export.

Sanz said that “strategic mineral,” also known as “blue gold,” is an irreplaceable material in products such as cellular phones and electromagnetic instruments for aviation and other hi-tech industries.

“Without coltan, there are no cell phones,” the minister said in illustrating the importance of that mineral.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA